Fever-Tree Shares Rise Almost 10%
Tuesday (November 7) saw shares in tonic water company Fever-Tree rise almost 10% following upgraded forecasts by the firm indicating that its sales for 2017 are expected to be "materially ahead" of market expectations.
According to The Financial Times, Fever-Tree's share price was up 250p at €22.11, up from €1.34 when the company floated on London's junior Aim exchange in November of 2014.
The current price values the firm at approximately £2.5 billion. Additionally, company sales amounted to just above £100 million in 2016. Fever-Tree currently employs approximately 60 people.
Fever-Tree first came to fruition in 2005 when drinks industry veteran Charles Rolls joined forces with advertising executive Tim Warrillow to forge a spirits mixer group. Alongside flavored tonics, the company also produces ginger ale, Sicilian lemonade and Madagascan cola.
Despite selling shares for the past two years, Rolls remains the business's biggest shareholder with a stake of 11.2%. In May of this year, he placed 4.5 million shares at £16.25, raising in the region of £70 million. Meanwhile, Warrillow sold 1.5 million shares at £19.25 in July and currently owns 5.4%.